FINANCIAL :
CHICAGO.
The weirtly re\iew of trade in the Chicago -
cage district , published by Iu G. Dun &
Co. , will say :
"Tra < ! e exhibits further room-fry , sea-
sonuMe. vcather proving bencfai : : ! , and
sthere is improvement in both pm-l-icuon
-and distribution , together with larger
Jjioveinents of Imadstuffs nnd hv < , stock
= and si b-'ter general demand for money.
"Tlies- gratifying developm-'K-s .ire also
upploipei. ! " . ! ba voliune f p.Mri'Mits
Jthrou h the banks little short 01 iliar a
jyesir ag ) suul u c-onimercial mortality the
.lowest in s-.everal months. I'll- supply of
funds for business purposes is made anv
jpje by unusually high deposits , and this
eii"courages more bidding for discounts ,
with the rate for choice paper easier at
-6 % per cent.
"Resumption appears in heavy con
struction and new building , invo'/ing out-
Jays exceeding those sit th's tinu last j
year , but railroad work is in al > oyance !
pending financial arrangements. Condi
tions favor an early lake traffic , and this (
stimulates renewed activity throughout
the docks and shipyards.
"Factory employment has jain d mod
erately and the idle hands are smaller in
number , although new contracts in iron ,
steel and equipment come forward slowly.
Ore piles on hand exceed the normal , but
I > 5g iron stocks in this district tliselose
little accumulation , and with prices down
to expectations inquiries became more nu
merous and suggest increased furnace1 out
puts shortly. Woodworking branches re
flect a brighter outlook bas l upon cur ?
rent demand , and wages of cabinet vork-
ors are ad\sincod. but the aggregate buyIng -
Ing of lumber is not yet equaling expecta
tions. '
"Tanning indicates some effort to aug
ment stocks , and there is : i 'inner tone in
leather , but the market for hides continues -
-tinuos depressed , notwithstanding smaller
receipts. Shoe manufsicturei-s arrt season
ably active , and there is steadiness in
novelties and trunks , while furniture
Heather shows increasing shipments.
"Building materials are in stronger re-
iuost. lower average of cost uniting more
investment in residence property , and the
packing industry is exceptionally busy
and giving employment lo moro than the
, normal forces at good wages.
"Mercantile collections at vesiern
points occasion less difficulty , and ship [ .
ments of general merchandise to the ;
sSouth and the gulf States surpass those
, at this time last year.
"Failures reported in the Chicago dis
trict number oO. against -10 last week
and 2a year ago. Those with liabilities '
over $ . .Oi.lO number 11 , against 13 last
week and S in 1007. " |
NEW YOBX.
"There is quite considerable improve
snent in both the tone of general distribu
tive trade and in the volume of business
actually booked by jobbers. Withal , however -
over , there is little change to be seen in
the character of the buying , which is still
along very conservative lines , and , while
the volume of business doing is larger
now than JH any time wince last fall , the
'
shrinkage trom a year ago is distinct and 1
unmistakably large. Collections are still
very backward : pric < s of staples tend
lower , as for a long time past ; the earn- j
in : ; power of employes in many lines of
industry is being curtailed by short tinw ,
or wage reductions , and the threat is
made that a refusal to accept lower wages
may result in a widespread suspension of
activity in the coal trade. I
The demand for iron and steel shows
Urtle real expansion , aside from some
"lines like wire and similar goods. Old
material t < nds to ease , and many consum ,
ing plants are running on short time. The
long standing curtailment of cotton goods
production shows no signs of ending : in
fact , a continued heavy cut in production
is indicated , and notice has been given , in ' ;
addition , of a 10 per cent reduction in
wages at some eastern mills.
Business failures in the United States
tfor tjie week ending March 12 number
; 27G. ngainst 287 last week , 1S < 5 in the lik !
-week of 1007. 1ST in 11)00. ) ISC. in 1005
: anrt ID. ' , in 1004. Failures in Canada for
!
the week number . ' 51. as against 40 last
k and 2 ! this week a jear ago. in
en
Chicago Cattle , common to prime
i$4.00 to $0.10 ; hogs , prime heavy , $4.0C
-4o $4.SO : sheep , fair to choice. § ? M
io $ (5.10 ( ; wheat. No. 2. Olc to0 ( > c ;
corn. No. 2. Olc to C : ! c : o.its. standard ,
T 2c to r.Cc : rye , No. 2 , SOc to S2c : hay ,
timothy. $ f .r,0 to $10.00 : prairie. $8.00
He
to ? 12.00 butter , choice creamery. 2."ic
to 2Sc ; egcs. fresh. l."c to 17c ; potatoes ,
jer bushel. 02c to 70c.
Cincinnati Cattle. $4.00 to ? .j.7- ;
-hogs. $4.00 to $ . " . .00 : sheep. $ . ° . .00 to of
.g.V2.j ; wheat. No. 2. $1.00 to $1.01 : corn ,
! Xo. 2 mixed , ( vie to ( ( > e : oats , Xo. 2 in
siiixed. o2c to . " > : > ( . : rye. Xo. 2. SOc to 87c.
Detroit Cattle , $4.00 to $3.00 ; hogs ,
4.00 to $4.0.1 ; sheep , $2..10 to $3.00 ; to
wheat , Xo. 2. OGc to OSc ; corn , Xo. 3
.yellow. O.lc to < > 7c ; oa Is. Xo. H white ,
SHc to "MC : rye , Xo. 2 , Sic to Soc.
Milwaukee Wheat. Xo. 2 northern ,
$1.07 to $1.0S ; corn. Xo. : ! . OOc to C.2c ;
oats , standard , 14c to .Lie : rye. Xo. 1 ,
Sic to S2c : barley , Xo. 2. DOc to 92c ; for
pork , mess. $11.00. it
Buffalo Cattle , choice shipping Meers ,
. 4.00 to $0.10 ; hogs , fair to choice , $3. . = > 0 ed
to $ .1.0.1 ; sheep , common to good mixed ,
$ -1.00 to $ .1.2.1 ; lambs , fair to choice ,
$ .1.00 to $7.00.
Xew ; York Cattle. $4.00 to S.1.S2 ; too.
li : rs. $ : ? . .10 to1.0 ! ) : sheep. $ P.00 to
$ .1.00 : wheat. Xo. 2 ml. OOe to $1.01 ;
age
corn , Xo. 2. 0 ( c to < > Sc : orUs. natural
white.17c to GfV : butter. cream-Ty , 27c
to 20c : egrs. vrestern. l.'Jc to Lie.
Toledo Wheat. Xo. 2 mixed. O.lc to
S7c : corn. Xo. 2 mixed. (52c ( to Olc ; ble
oats. Xo. 2 mixed. .ic : ! 10 .Lie ; rye. Xo.
2 , SOc to Sic ; clover seed , prime , $12.40. ists.
POLITICS o a a *
OF THE DAY
TnrJir on Woolen Gooilw.
There is no industry protected more
highly by the tariff than the woolen
manufacturer. The average rate on all
manufactured articles , of which wool
is the chief constituent , is 00.30 per
cent , which when the freight and other
charges are addeii to the duty about
doubles the average cost on imported
woolen articles. When the tariff tax
on the woolen articlesis considered ,
it would seem , that even our Republi
can protectionist friends have over
shot the mark. For instance , on long
blankets the purchaser has to pay a
tariff tax of 185.31 per cent ; on dress
goods 155.54 per cent ; on knit fabrics
133 per cent ; on cloth 130.73 per cent ,
and even on shoddy , which is largely
used here for cheap clothing , the tariff
tax is 174.55 per ccut. That is the
actual tariff tax paid on imports of the
articles quoted for the fiscal year end
ing June 30 , 1000. which is the last
oflicial report published.
The American Woolen Company ,
known as the Woolen Trust , is the chief
recipient of these tariff fsivors , for the
high duties on imported goods prevent
much from being purchabcd but allow
the Trust to add to its profits the
amount of what similar imported goods
would pay. Thus if a yard of cloth
cost one dollar in England the tariff
tax when it is imported here is $1.30 ,
making the cost here # 2.30 without
reckoning the freight and other ex
penses or the profit to the importer.
The English manufacturer must have
made a good profit on that yard of
cloth. It probably co t him SO cents ,
so his profit was 20 cents and our im
porter paid $1 and then had to pay the
cost of importing and the tariff tax. A
similar yard of cloth manufactured
here would cost about Si and the ordi
nary profit would be 25 per cent the
same as the English manufacturer
made , which should bring the wholesale
.selling price here to $1.25 a yard. But
as the tariff tax brings the cost of the
foreign ysird.of cloth to 2.3 ( > , our man
ufacturer esm add si further profit of
$1.11 a yard to the price as the extra
profit he can charge , before the 5m-
ported goods can compete with him.
To prevent this foreign competition
our manufacturer sells the home-made
cloth just enough cheaper than the for
eign-made cloth can be sold for. So the
Woolen Trust can charge $1 a yard
extra profit and still beat the foreign
manufacturer 11 cents a yard.
It does not require any expert on
tariff plundering to discover that the
American consumer not only pays the
tariff tax on the imported goods , but
also pays the trusts the tariff they
charge in increased profit. But this is
not the worst of the tariff robbery , for
where there is one yard of cloth , or
any other article , imported there are J.1
hundreds of such , of domestic manuH'v
facture consumed , ou which the trusts
l
and combines have collected their tar- *
iff profit.
This tariff robbery is perhaps moro
fully shown when it is considered that
the toval value of all the woolen goods
imported for the fiscal year 1900 was
22.353.501 , on which a tariff tax was
paid of ? 20,1S5,04S. or 00.30 per cent.
The cost value of woolen and worsted
oods manufactured in the United
States in 1003 is given in the United PI
I
States Statistical Abstract as $307-
041.710 and the price at which these
goods were sold in consequence of the
tariff protection was approximately
to
doubled. So whereas the United States
'
collected a little over twenty million
tariff taxes the trust and other wool
manufacturers collected about $300-
000.000 extra profit in consequence of . .
tariff protection or $13 for every dollar
collected by the government.
Is not this woolen schedule of the
tariff law a monument of plundering
nnrt yet a Republican Congress stands
pat and refuses to even consider revis
ing such protection to the trusts.
. \Kniu.st Government Ownership.
In his recent interview in the Xew ici
Tork World , Senator Daniel takes | )
strong ground against the ownership of -
railroads by the Federal ( Jovernmeut Sf"
regards it as sin imperialistic prop fchi
osition , and points out the dangers to "A
local communities and popular liberty to
that would arise from the appointment lia
a million employes by the cenrrsil ou
government in the interest of the part- tn
power , lie also points out the rrou- wl
hies which would grow out of the sip-
pointment of men of all races according
political exigencies , thus accentu
ating the race issues which have It
plagued us even under existing condi
tions , lie pronounces government own
ership undemocratic and inexpedient-
"I would as soon substitute a king
n President as once , " says he ; "for
( government ownership ) is the most
imperialistic idea that ha ? yet appear fine
in American politics. It means the and
appointment of a. million men at Wash
ington , from the president of a rail
road doTyn to a brakeman. It means ,
. an incumbrance to our government
which would suffocate it with patron
, and also be a burden to the people
from which they could never escape ,
unless by an unprecedented revolution. ago.
"All races would be equally admissi
to railroad employment , as they are the
tinder the civil service , as it now ex us
. And hence , among other evils , tire
government ownership would revive
the race question in a most disagree
able and obnoxious form. It would
bring to us again the experiences of the
past , with burdens that would be
heaped upon the people , and complica
tions which would be brought into our
politics. All of which furnish abundant
reasons against the tremendous experi
ment of purchasing and operating the
great railroads.
"State and Federal experiments on
this line have already furnished rea
sons against it. It is the very anti
thesis of Democracy ; and how any
man who calls himself a Democrat can
be in favor of it is a mystery to me.
The more things AVC undertake to gov
ern in this country through the Fed
eral agency , the more we congest this
government , Avhich is already over
whelmed by the magnitude and the
number of things it is undertaking. It
had better get rid of some things it is
now doing , than add others to those
which arc already so heaped up that
Congress is disabled from giving them
timely and proper attention.
"The fact is. the Federal Govern
ment , in its just relations to society , is
already full-handed ; and nothing would
be more injurious to the people , or more
burdensome to the taxpayers , than to
invent for omx'lves new incum-
brances. "
The Catilines of the present day will
regard Senator Daniel's remarks as
anachronisms , but the people of the
South will follow him in spite of the
demagogues.
Governor I > oiiili.s ami Trusts.
When it comes to the delegates to
the Democratic national convention con
sidering Avho they can nominate that
can win. they can not overlook the late
Governor of Massachusetts , lion. Wil
liam L. Douglas. In a state normally
Republican by 70.000 , Mr. Douglas was
elected Governor in 1004. by a plural
ity of 33,080. and that was in a presi
dential year , which by reason of the
increased vote in such years naturally
swells the vote of the dominant party ,
for the plurality of President Roe -e-
velt the same year was 00.070. and the
Ite-publican majorities of the other can-
didatos for state offices averaged near
ly 70.000. That was the greatest Demo
cratic gain in a Republican st.ite in
that Republican year , for while Gov
ernor Johnson of Minnesota was elect
ed Governor on the same day , his pul-
rality was only 0.332.
But this victory of Governor Douglas
wa the more remarkable because be
made : the issue the radical reform of
the tariff , which in such a manufac
turing state as Massachusetts should
by all the rules of political warfare
have : surely defeated him. But ho took
bold stand against the Republican policy -
icy of protecting the trusts by high
tariff rates and in his speech at Boston
at the meeting to ratify his nominaion
he said :
"Theso trusts , these oppressors of our
people , should not bo permitted to ar'v
bitrarily fix market prices for the nee-
essaries of life. I also believe that
such of the trusts as sell their prod-
nets in foreign lands at lower prices
than in the United States should have
withdrawn from them every vestige of
protection vouchsafed under the tariff
law. "
That declaration for tariff reform ,
by cutting off all the protection to
trusts that sold their products cheaper
foreigners than to our own people ,
was endorsed by the people of Massachusetts -
chusetts when they elected Mr. Douga
las Governor by such a large plurality
There is no doubt that a great ma-
jority of the people of the United States
would endorse the position of Governor
Douglas on the tariff if it is placed before -
fore thorn with the same clearness and
ability as ho displayed in his remarkable -
able campaign for Governor.
A pessimist writer says that the
terms Republican and Democrat have
become mere labels on empty bottles.
That is bad enough , if true. But the
same writer -also complains of someft
thing apparently far worse. He says :
"At present , all a Democrat can do is
sit back and look on the game. Xo
hand will be dealt him. lie is frozen
out. " When the botye is empty and
the < man frozen out at the same time.
what can a great editor do but dry up' :
Itepiililicnn SOUK Hook.
The Federal Office-holders' Song
Book will soon make its appearance.
is now in press. It uses the reformed -
formed spelling , and contains many de- \
lightful poems on Billy the Big One ,
Billy tl e Beau. My Choice from Xecescl
siiy. looaves and Fishes , the .Supple .
Hinges of the Knee , and kindred sub- "
jects. The morality of the work is very |
; the thought being Maehiaveliau /
the language Puritanical.
S
n
Fire anclwProtec < ion.
The fire loss in the United States and tl
Canada during the month of January i >
aggregates the enormous sum of $20.-
382,000 , or over five and a half million cl
dollars greater than January a year tl
. This loss of property is the worst °
evidence of lack of prosperity , whicb :
Republican national platform tells it
always accompanies a high protec * in
tariff.
PEACE OR WAR-THEY ALWAYS COME HERE ,
fa
PLEASEfa
. W >
* * % \\N
- ' . FINE or 0 ; PLEASE rft COMPLETE
-'ASSORTMENT ?
JOOVES-DIPLOMACY- 1 I UNIFORMS-PROVISIONS
PEACE CONFERENCES ; \ MILITARY SCHOOLS
> MONROE DOCTRINE | , ORDERS FILLED. |
' - - G- PROMPTLY . . . / ,
/
PREDICTS A FAILTIEE.
Former Chief Engineer Stevens Says
Panama Canal "Will Not Help.
John F. ( Stevens , a \ ice president of
Ihe Xow York , Xcw Haven and Hart
ford Uailroad , and a former chief eu-
ginecr of the Pan
ama canal , has is
sued a statement
prophesying t h c-
tsiilure of the canal
undertaking. Mr.
Stevens says tiiat
the canal will not
help the United
States in its trade
with South Ameri
ca , as practically
, i. t. siLursb. all of the inhabi- i
tants of the boutnern continent are on
the east of the Andes , so that it would
be of no advantage to make use of
the canal to reach them.
Mr. Stevens also says that in our
commercial relations with the islands
Ol- the Pacific and Far East the canal
w.Ul be of little value. Our coal and
wheat centers are inland. Their prod
ucts have to be started on their way by
rail. When once loaded on cars it
would not be cheaper to ship to tht *
Atlantic and then ship to the east by
the ' wajof the canal than it would be
to send directly to the ports on our
Pacific ; coast and then get on board I
snip. Mr. Stevens believes that our'
coal supply is fast diminishing and that
China will be the coal country for the
future. Siberia , he says , will be the
wheat country of the future , with India
a close second.
Mr. Stevens maintains that the Pan
ama canal cannot hope to become anj-
thing other than an expense. It will
not ( meet expenses and it will cost mor
than is expected. It will be an advan
tage , he says , to European countries ,
but ! not to us. The date of the finish
ing of the canal he fixes as January.
1015.
The idea of the canal being of great
to us in times of warfare since
our naval forces can be quickly sent i
from one coast to the other , he says ,
is ? utterly absurd. It would take days
for the ships to get around , and during
that time hostile shells could have done
their work.
Church System IS'ot
Kev. Dr. William X" . Bocock. pastor
of the First Reformed church of Bayonne -
onne , X. J. , created no slight sensation
when he declared from his pulpit that
the doctrines and ecclesiastical system of
the church to-day were unsuited to the
needs of the twentieth century ; that the
doctrinal sj'.stem of the church was a her
itage from the sixteenth centurj ; that
while it contained a soul f truth , the
body wa ? unauited to these times. The
church , he said , war n t founded upon a
book , and referred t the story of Daniel
in the lions' den , the penin f the Ked
Sea before the floeinj Israelites , etc. , as
figurative and Tery exaggerated language.
Hc said : "Tie prephets f the eld time
sought tie best astans of conveying t the
minds of the wrt f people then lir-
ing the reli i ns spirit , but the things
that were T hitl i f tfaone days cannot
be rohielffs f tJ .y. ' ' Re declared his
intCRtiea of askiaj : the authorities of the
chnrch for ptrrainsiou t preach the
trnth for the aest tire jears While the
older and more staid membership of Dr.
Bocock's chnrch are against his opinions ,
is said that many member * ef his flock
are standing loyally by him , and a split
the so 5cty win prefcikly nsue
WILL FEED THE HUNGRY-
Fashionable Pittsburg Congregation
Forms Unique Club.
On a recent Sunday in the Second
Presbyterian church , one of the most
fashionable in Pittsburg. was oruan-
icd what is known as the Breakfast
Brotherhood Club. The organization
consists of men and women enlisted in
a good but certainly most original
cause. Each Sunday morning before
services breakfast will be served in the
basement 01 the edifice to the poor and
needy. Word wa < * scattered , perhaps
more as a joke than anythinir else , .by
someoneconnected , with the church that
there would be free b'-oakfasts Sunday
in the vestibule , served to all who were
hungry. Two hundred people were .is-
sembled at the church door when tin *
pastor , S. Eduard Vounir. arrived. lie
was slightly disconcerted for a moment ,
not having heard of the "breakfast
movement. " but when he learned the
reason for the gathernir ! be met tin-
situation calmly and at once proceeded
to make an assessment on those mem
bers of the congregation who had aj-
ready assembled. Food was quickly
procured and coffee made , and the en
ergetic pastor personally helped look
after the wants of the hungry 0 ! > .
Upon thinking the subject over he and
his people came to the conclusion that
feeding the needy of Pittsburic every
Sunday morning wouldn't be a hard or
unpleasant task , and so the club was
formed.
Six railway companies , the Elgin. '
Joliet and Eastern , the Grand Trunk
Western , the Belt IJaihvay Company , the
Atchison , Topeksi and Santa Fe. the Chicago
cage and Xorth western si ml the Michigan .
Central , have been found guiltx in the ,
I'nited States District Court at Chicago
of violating the safety appliance law. In
two of the cases punishment was suspend
ed pending a motion for a now trial. In
the other cases fines varying from $ lK ( )
to $ 'tt)0 ) wore impo-ed.
The announcement of the phicini : of an
order for 'J. > . ( XK ) ton * of steel rails on the
1007 basis by the Erie railroad is taken
to indicate the collapse of the steel mil
deadlock , particularly sis it has been fol
lowed by the statement that pra-tically
every railroad in the country has placed
tentative orders for the estimated require
ment in steel rails for 14'S. ! The as rre- .
gate of the estimates is lc-\s than that of !
lost year , totaling in the neighborhood of
2,400,000 tons.
The connect ins link hetnrn the Illi
nois Central and the Control of ( Joorirht
is now finished and soon th ? Ilnrri-
rnan system will be in rprrnrien from
ocean to ocean. This link T ; th" branch
linr from Corinth. Mis.- : . , to Ilalpyville.
Ala. , whence train * will -r.n to Birming
ham o\er the tracks of the Northern
Alabtimn and Frisco li'ies.
Evidence of the irradu.al resumption of
bn inrss and industrial activities is found
in the order of the Pennsylvania railroad
te fire up fifty freight locomotives on the
Pittpburg division , which have been laid
uo on sidings for several months J
FIRE TRAPS EVERYWHERE.
Every Village and City Has Its Po
tential Ccllinwood Tragedy.
That Xew York city is full of fira
traps : iml that every village and city
possesses the possibilities of just such
a calamity as visited Collinwood , Ohio ,
is the opinion of Richard L. Humphrey ,
engineer in charire of the structunil
materials laboratory of the United
States government. He says :
"The blocking catastrophe at Collin-
uood did not result from exceptional
cnndit'ons. but from conditions that are
to be found in thousands of instances
throughout the I'nited States. The
same or even worse liretraps prevail
in every village and town and , indeed ,
in many of the lame cities. Even where
n.unicipa ! laws are supposed to govern
the erection of such structures the con
ditions are often worse than In Collin
wood. The onlv surprise is that these
( ats-tropies ! do rot occur more fre
quently.
"The remedies for these conditions 13
not in elaborate systems for fighting
fire or any elaborate fire drills , whicb
may or may not be effectively carried
out. but in th" enactment of strict mu
nicipal laws compelling : the erection of
structures entirely llrep roofed with ma
terials of the highest quality , and es
pecially in the prevention of the erec
tion of llimsy structures , where women.
and children gather in large number ,
as. for example , schools , theaters , hos
pitals and similar buildings. Unless
such action is taken greater calamities
than those at Collinwood and Boyer-
town. attended by even greater loss of
life , will undoubtedly occur/ '
Henry Cle\\s. the Xew York banket
and broker , addre.ing the Pitusburg chai > -
tis of the Am-rica'i Banking Institute ,
said ; that a general reduction of wages in
all the jri-eat railway and other indus
tries : had become absolutely necessary be
cause still at the hiirh fiirnres to which
they \\ere pushed during tin- long period
of prosperity. He said the labor unions
should at once reduce their wage scales
"and not uait until th".v are forced to
yield. " lie pointed out that half a loaf
N better than none , and urged that the
workmen o\\ed this < -heerful acceptance
of the cut as a dutto society at large.
Mr. Cls defended stork speculation oo.
the exchanges , . "
s.tyini : that it "is no more
gambling than speculating in real estate
or ordinary merchandise. " He deplored
the recent attacks oa Wall street , tha
financial center of the country , by both
loos-cvelt and Bryan.
\iinfv fitr ! > rnrjiii's ISuuIc.
The First Xationai l.ank of Xew York ,
the colossal institution , known as J. P.
Morgan's financial power station , has ar
ranged to onrnni/e umt ! will be known
sis \ the First Security Company , to be
financed with the bank"unpins funds
and , officered by the same men who direct
the affairs of the bank. Being organised
uid ( r State lawsit will be free to do
many thinss which are unlawful for the
bank 1 ; chartered und r fr.Ieral laws. Here
after the bank will be confined strictly
to the business of banking , and leave the
syndicating and jpe-yau ! ; ; to the subs-i-
dlary State orr.mxaton. Capital for
the trust company wiil be provided by
dfclarlr.g n dlvidf-nd of 10y per cent oa
the bank's $10/Jf U'X ) ) capital.
elu llt : itlvr lk I'c cun.
Atlantic City has witnessed the be
ginning of the great reconstruction task
of replacing the famous board wa' t vriti )
a concrete promenade.
